What is MS-PA's earnings per share (EPS)?

MS-PA (MS-PA) reported diluted earnings per share of $10.21 for fiscal year 2025. This represents a 28.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

MS-PA Financials

MS-PA

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows MS-PA (MS-PA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MS-PA FY2025 2026-04-22

A liability-funded balance sheet turns thin asset returns into respectable equity profits, making leverage the core operating mechanic.

Over the last three valid years, ROA barely changed, yet ROE climbed to 15.1% as debt-to-equity kept rising, which means the rebound in shareholder returns came more from a heavier leverage stack than from a dramatic improvement in how assets earned. That same structure showed up in cash conversion in FY2025: net income was $16.9B while operating cash flow was -$17.9B, so reported profit did not translate into internally generated cash in the latest year.

The company carries a large cash reserve of $111.7B, but it also sits on long-term debt of $341.7B, so cash here functions more like funding capacity than a sign of a lightly financed balance sheet. With liabilities far outweighing equity, even modest shifts in asset profitability can have an outsized effect on shareholder returns.

In FY2025, financing inflows of $67.8B more than covered operating outflows of -$17.9B, showing that the business relied on balance-sheet funding rather than current-year operations for cash support. That matters more than a simple revenue reading because this is an asset-heavy model where funding posture is a bigger driver of economics than gross-margin spread.

Financial Health Signals

Financial health score pending refresh

We are recalculating MS-PA's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

3/7

MS-PA passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-1.06x

For every $1 of reported earnings, MS-PA generates $-1.06 in operating cash flow (-$17.9B OCF vs $16.9B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$70.6B

YoY+14.4%

5Y CAGR+7.7%

10Y CAGR+7.2%

MS-PA generated $70.6B in revenue in fiscal year 2025. This represents an increase of 14.4% from the prior year.

EBITDA

N/A

Net Income

$16.9B

YoY+25.9%

5Y CAGR+8.9%

10Y CAGR+10.7%

MS-PA reported $16.9B in net income in fiscal year 2025. This represents an increase of 25.9% from the prior year.

EPS (Diluted)

$10.21

YoY+28.4%

5Y CAGR+9.6%

10Y CAGR+13.4%

MS-PA earned $10.21 per diluted share (EPS) in fiscal year 2025. This represents an increase of 28.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$111.7B

YoY+6.0%

5Y CAGR+1.1%

10Y CAGR+2.7%

MS-PA held $111.7B in cash against $341.7B in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.85

YoY+8.5%

5Y CAGR+22.4%

10Y CAGR+21.5%

MS-PA paid $3.85 per share in dividends in fiscal year 2025. This represents an increase of 8.5% from the prior year.

Shares Outstanding

1.59B

YoY-1.5%

5Y CAGR-2.6%

10Y CAGR-2.1%

MS-PA had 1.59B shares outstanding in fiscal year 2025. This represents a decrease of 1.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

23.9%

YoY+2.2pp

5Y CAGR+1.3pp

10Y CAGR+6.4pp

MS-PA's net profit margin was 23.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.2 percentage points from the prior year.

Return on Equity

15.1%

YoY+2.3pp

5Y CAGR+4.3pp

10Y CAGR+6.9pp

MS-PA's ROE was 15.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

MS-PA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$70.6B+14.4%	$61.8B+14.1%	$54.1B+0.9%	$53.7B-10.2%	$59.8B+22.6%	$48.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$29.2B+11.6%	$26.2B+6.6%	$24.6B+6.5%	$23.1B-6.4%	$24.6B+18.1%	$20.9B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$49.0B+7.7%	$45.5B+8.3%	$42.1B+242.8%	$12.3B+798.1%	$1.4B-64.5%	$3.8B
Income Tax	$4.9B+21.2%	$4.1B+57.5%	$2.6B-11.2%	$2.9B-36.0%	$4.5B+40.4%	$3.2B
Net Income	$16.9B+25.9%	$13.4B+47.4%	$9.1B-17.6%	$11.0B-26.6%	$15.0B+36.7%	$11.0B
EPS (Diluted)	$10.21+28.4%	$7.95+53.5%	$5.18-15.8%	$6.15-23.4%	$8.03+24.3%	$6.46

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$20.6B+15.0%	$17.9B-1.8%	$18.2B+8.5%	$16.8B-5.3%	$17.7B+9.3%	$16.2B+5.5%	$15.4B+2.4%	$15.0B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.5B+20.9%	$7.1B-5.1%	$7.4B+3.5%	$7.2B-4.4%	$7.5B+19.6%	$6.3B-6.6%	$6.7B+4.2%	$6.5B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$12.6B+3.9%	$12.1B-6.7%	$13.0B+3.2%	$12.6B+10.2%	$11.4B+4.2%	$10.9B-8.8%	$12.0B+4.6%	$11.5B
Income Tax	$1.4B+2.8%	$1.3B-2.7%	$1.4B+31.1%	$1.0B-10.7%	$1.2B-0.8%	$1.2B+18.8%	$995.0M+4.0%	$957.0M
Net Income	$5.6B+26.6%	$4.4B-4.6%	$4.6B+30.3%	$3.5B-18.0%	$4.3B+16.2%	$3.7B+16.5%	$3.2B+3.6%	$3.1B
EPS (Diluted)	$3.43	N/A	$2.80+31.5%	$2.13-18.1%	$2.60	N/A	$1.88+3.3%	$1.82

MS-PA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.4T+16.9%	$1.2T+1.8%	$1.2T+1.1%	$1.2T-0.7%	$1.2T+6.5%	$1.1T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$111.7B+6.0%	$105.4B+18.1%	$89.2B-30.4%	$128.1B+0.3%	$127.7B+20.9%	$105.7B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$16.7B+0.1%	$16.7B0.0%	$16.7B+0.3%	$16.7B-1.1%	$16.8B+44.7%	$11.6B
Total Liabilities	$1.3T+17.8%	$1.1T+1.5%	$1.1T+1.4%	$1.1T-0.2%	$1.1T+6.8%	$1.0T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$341.7B+20.2%	$284.3B+9.1%	$260.5B+11.4%	$233.9B+2.9%	$227.4B+6.5%	$213.4B
Total Equity	$111.6B+6.8%	$104.5B+5.5%	$99.0B-1.1%	$100.1B-5.0%	$105.4B+3.6%	$101.8B
Retained Earnings	$115.1B+9.6%	$105.0B+7.1%	$98.0B+3.3%	$94.9B+6.1%	$89.4B+13.6%	$78.7B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.6T+11.3%	$1.4T+4.1%	$1.4T+0.8%	$1.4T+4.1%	$1.3T+7.0%	$1.2T-3.4%	$1.3T+3.8%	$1.2T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$133.5B+19.5%	$111.7B+7.7%	$103.7B-4.9%	$109.1B+20.3%	$90.7B-13.9%	$105.4B+15.7%	$91.1B+1.0%	$90.2B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$17.1B+2.3%	$16.7B0.0%	$16.7B-0.1%	$16.7B+0.1%	$16.7B0.0%	$16.7B-0.2%	$16.7B+0.1%	$16.7B
Total Liabilities	$1.5T+12.1%	$1.3T+4.3%	$1.3T+0.7%	$1.2T+4.4%	$1.2T+7.5%	$1.1T-3.8%	$1.2T+3.8%	$1.1T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$363.0B+6.2%	$341.7B+5.4%	$324.1B+1.2%	$320.1B+7.8%	$297.0B+4.5%	$284.3B-2.4%	$291.2B+7.9%	$269.9B
Total Equity	$114.3B+2.4%	$111.6B+1.5%	$110.0B+1.6%	$108.2B+1.3%	$106.8B+2.2%	$104.5B+0.8%	$103.6B+2.9%	$100.7B
Retained Earnings	$118.9B+3.3%	$115.1B+2.4%	$112.4B+2.6%	$109.6B+1.8%	$107.7B+2.5%	$105.0B+2.0%	$102.9B+1.5%	$101.4B

MS-PA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$17.9B-1413.4%	$1.4B+104.1%	-$33.5B-424.2%	-$6.4B-118.8%	$34.0B+234.6%	-$25.2B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$46.8B-58.8%	-$29.5B-855.3%	-$3.1B+73.5%	-$11.6B+76.7%	-$49.9B-31.7%	-$37.9B
Financing Cash Flow	$67.8B+44.9%	$46.8B+1815.2%	-$2.7B-112.0%	$22.7B-45.3%	$41.5B-50.4%	$83.8B
Dividends Paid	$6.6B+7.4%	$6.1B+6.5%	$5.8B+6.7%	$5.4B+29.5%	$4.2B+52.3%	$2.7B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$7.1B-194.5%	-$2.4B+27.7%	-$3.3B-128.2%	$11.8B+149.3%	-$24.0B-303.2%	$11.8B+168.1%	-$17.3B-786.1%	$2.5B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$6.6B+50.7%	-$13.4B-25.5%	-$10.7B+39.6%	-$17.7B-251.1%	-$5.0B+50.4%	-$10.2B-51.6%	-$6.7B+51.0%	-$13.7B
Financing Cash Flow	$36.5B+52.1%	$24.0B+164.1%	$9.1B-58.1%	$21.7B+66.1%	$13.0B-14.5%	$15.3B-33.8%	$23.0B+5805.0%	-$404.0M
Dividends Paid	$1.7B+1.2%	$1.7B-1.0%	$1.7B+7.6%	$1.6B-2.0%	$1.6B+2.0%	$1.6B-0.3%	$1.6B+8.4%	$1.5B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MS-PA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	23.9%+2.2pp	21.7%+4.9pp	16.8%-3.8pp	20.5%-4.6pp	25.2%+2.6pp	22.6%
Return on Equity	15.1%+2.3pp	12.8%+3.6pp	9.2%-1.8pp	11.0%-3.3pp	14.3%+3.5pp	10.8%
Return on Assets	1.2%+0.1pp	1.1%+0.3pp	0.8%-0.2pp	0.9%-0.3pp	1.3%+0.3pp	1.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.06+0.3	2.72+0.1	2.63+0.3	2.34+0.2	2.16+0.1	2.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	27.1%+2.5pp	24.6%-0.7pp	25.3%+4.2pp	21.1%-3.2pp	24.3%+1.4pp	22.9%+2.2pp	20.7%+0.2pp	20.5%
Return on Equity	4.9%+0.9pp	3.9%-0.3pp	4.2%+0.9pp	3.3%-0.8pp	4.0%+0.5pp	3.5%+0.5pp	3.1%+0.0pp	3.0%
Return on Assets	0.4%+0.0pp	0.3%-0.0pp	0.3%+0.1pp	0.3%-0.1pp	0.3%+0.0pp	0.3%+0.1pp	0.3%0.0pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.18+0.1	3.06+0.1	2.95-0.0	2.96+0.2	2.78+0.1	2.72-0.1	2.81+0.1	2.68
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is MS-PA's annual revenue?

MS-PA (MS-PA) reported $70.6B in total revenue for fiscal year 2025. This represents a 14.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is MS-PA's revenue growing?

MS-PA (MS-PA) revenue grew by 14.4% year-over-year, from $61.8B to $70.6B in fiscal year 2025.

Is MS-PA profitable?

Yes, MS-PA (MS-PA) reported a net income of $16.9B in fiscal year 2025, with a net profit margin of 23.9%.

How much debt does MS-PA have?

As of fiscal year 2025, MS-PA (MS-PA) had $111.7B in cash and equivalents against $341.7B in long-term debt.

What is MS-PA's net profit margin?

MS-PA (MS-PA) had a net profit margin of 23.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does MS-PA pay dividends?

Yes, MS-PA (MS-PA) paid $3.85 per share in dividends during fiscal year 2025.

What is MS-PA's return on equity (ROE)?

MS-PA (MS-PA) has a return on equity of 15.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is MS-PA's operating cash flow?

MS-PA (MS-PA) generated -$17.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are MS-PA's total assets?

MS-PA (MS-PA) had $1.4T in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does MS-PA have outstanding?

MS-PA (MS-PA) had 1.59B shares outstanding as of fiscal year 2025.

What is MS-PA's debt-to-equity ratio?

MS-PA (MS-PA) had a debt-to-equity ratio of 3.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is MS-PA's return on assets (ROA)?

MS-PA (MS-PA) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is MS-PA's cash runway?

Based on fiscal year 2025 data, MS-PA (MS-PA) had $111.7B in cash against an annual operating cash burn of $17.9B. This gives an estimated cash runway of approximately 75 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is MS-PA's Piotroski F-Score?

MS-PA (MS-PA) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are MS-PA's earnings high quality?

MS-PA (MS-PA) has an earnings quality ratio of -1.06x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.